Polygon Vesting Contract is Officially Vacant, Will MATIC Price Become $3?

Like many other crypto projects, the Polygon network's native token, MATIC, was launched with a portion of the supply awarded to the team over a period of time. In Polygon's case, vesting lasts for five years, and since 2019, there have been periodic token unlocks. However, that unlock, which has often been a barrier for investors, has now come to an end, as the final batch has just been released to the team.

Polygon Unlock Final Sign in to Team

On Wednesday, February 21, the Polygon Foundation received the last portion of tokens they had from the vesting contract. In total, 273,304,816 million MATIC tokens worth $260 million were released to Foundation wallets.

This opening marks the final opening that the Foundation will receive, meaning that nearly all of the available supply of MATIC is now in circulation. The latest Unclog brings the cryptocurrency's circulating supply to 9,618,318,574 from its 10,000,000,000 maximum supply. As a result, Polygon's market capitalization is just above $9.14 billion with a fully diluted valuation (FDV) of around $5 billion.

The entire supply of MATIC has been unlocked, meaning there will be no more tokens in circulation. This is a major milestone for the project, whose investors have been waiting years for their tokens to finally run out.

The trending polygon is under $1 | Source: MATICUSDT on Tradingview.com

How Will This Affect MATIC Price?

The fact that the entire supply of MATIC is now in circulation is bullish for the digital asset, especially in the long term. Inflation is a factor that tends to keep investors away and prevent them from holding onto their coins due to the fear of more tokens in circulation causing supply to exceed demand.

Now that the entire supply is in circulation, this provides an opportunity for MATIC price to enter price discovery.

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